Locksley Resources Ltd (ASX:LKY) 9.86Mt Resource Defined at The Tottenham Project

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Locksley Resources is pleased to provide an initial, independent resource estimate for the Tottenham Project in central New South Wales.

 

9.86Mt Resource at Tottenham

  • Global inferred resource of 9.86Mt @ 0.7% Cu, 0.2g/t Au, 2g/t Ag for 71kt copper, 66koz gold and 511koz silver
  • Resource calculated on two areas, being the Carolina Deposit and the Mount Royal to Orange Plains Deposits
  • Deposits remain open laterally and at depth
  • Multiple other targets require exploration

Locksley's Managing Director Steve Woodham commented:

 

Steve-Woodham
 

"The Tottenham Project continues to deliver. The MRE supports the Company’s strategy of creating a strong resource base at the Tottenham Project."

Steve Woodham, Managing Director, Locksley Resources 

 

 

 

"Both the Carolina and Orange Plains deposits continue to grow in size. The additional tonnes that have been attributed to the global resource at Tottenham, together with the additional encouraging results on the margins of both deposits, provides the confidence in moving forward with multiple drilling campaigns this year.

Along with continued resource drilling in order to expand and upgrade the existing Resource, the Company will embark on an aggressive work program for the remainder of the year."


 

Tottenham Mineral Resource Estimate

 

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Introduction

 

Locksley Resources listed in 2021 with the Tottenham Project as its major asset. In 2021, Locksley completed 28 RC and 7 diamond drill holes over the Chris Watson, Orange Plains and Carolina deposits.1,2 The Tottenham Project is located in central New South Wales and surrounds the historic copper mining town of Tottenham.

The Tottenham deposits are hosted within the Ordovician Girilambone Group that also host the Tritton and Girilambone Mines, 110km to the north-northwest (Aeris Resources Ltd.), and is immediately along strike from the CZ Copper Deposit, that is being progressed by Helix Resources Ltd. The recently discovered Constellation Deposit is also in this belt.

Significant previous exploration has defined two exploration targets at the Mount Royal Orange Plains and Carolina Deposits.

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Next Steps

Over the coming months the following activities are being progressed, to expand the existing resources and attempt to identify additional resources:

  • Approximately 1,000 line km of Helitemairborne electromagnetic survey to be flown over the entirety of EL8384 and two parts of EL9307 in May.
  • Aircore drill testing of magnetic and electromagnetic anomalies in the central parts of EL6656 in May.
  • Reverse circulation (RC) drill testing of extensions to the historic Jimmy Woodser Mine.
  • RC infill and extensional drilling at the Orange Plains and Chris Watson deposits.
  • Validation of historic Mincor drilling including relogging and additional sampling of up to 40 diamond drill holes stored at Tottenham.

View the full announcement here.


Locksley Resources Limited Investor Presentation

 

Along with the recent ASX announcement, LKY has also released an updated investor presentation.

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Overview:

  • Australian exploration company with the purpose of identifying and assessing resource opportunities within Australia.
  • Focused on the exploration and development of the mineral resources project at Tottenham NSW.
  • Highly prospective Lachlan Fold Belt Tottenham district and includes a 50 km strike length of sulphide copper corridor.
  • JORC 2012 Compliant Resources.
  • Multiple exploration targets.
 

 

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